A free credit check helps you know if you are on the blacklist and allows you to find out the state of health of your credit and financial history. South Africa is seeing an increase of people battling to keep their head above water financially. So knowing your score by doing a free credit check can help you get back to financial freedom.
It is estimated that one in five South Africans is listed in some way or another on the credit bureaus. It’s a good idea to get to know if you are blacklisted before applying for finance from a credit provider. To save any embarrassment or to try and resolve any wrongful judgements against you in a report.
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Many people do a free credit check to see if a creditor has blacklisted them for not paying bills on time. Or keeping up to date with monthly re-payments on a house or car loan. In some instances this can happen even though someone has only defaulted on one or two payments. Very often through no fault of their own.
A good place to see your credit score for free in South Africa is on this website: https://www.clearscore.com/za/
It is possible to get bad judgements reversed in certain cases. With the help of a debt settlement lawyer people can even clear their name completely.
Reports can be obtained online through links to the various records. Advice can be given to help people resolve their individual debt problems.
South Africa Credit Bureaus
The South African credit bureaus are obliged to give consumers a copy of their record each year at no charge. You should take advantage of this option if you qualify.
If you are in any doubt and feel a little unsure about whether you are reported as having a bad history or feel you may be blacklisted. Do a free credit check before applying for any other finance to be on the safe side.
Free Credit Check Reports
A free credit report is available to check bad credit and blacklists of banks and other finance lenders. For those blacklisted or think they may have a judgement against them because of defaulting on monthly payments.
The personal credit reports themselves do not actually state that a person is a good or bad risk. But instead give a finance company the information it needs on people that may have been previously in debt. Or perhaps missed some monthly payments on a previous contract with another lender.
The free credit report bureaus store these records within a database getting the information from landlords, merchants and lenders.
Reports are available to a business or financial institute in order for them to be able to make a decision. On whether to accept someone or not if they have applied for further credit.
Having all the information available on a person’s credit history helps to ensure that a company is making the right decisions when it comes to lending money.
When someone goes to a company to apply for a loan to buy a house or wants to apply for car finance then the first thing a lender will do is check out the report.
That person’s report can depend on whether they qualify for the loan or whether they are rejected. Or a person may get a loan although have to pay it back at a higher interest rate depending on what the reports state.
Someone who is concerned about the information provided on their personal financial records may have access to the free credit check report for individual evaluation.